DA Davidson Lowers Earnings Estimates for Civista Bancshares

Civista Bancshares, Inc. (NASDAQ:CIVB) – Equities research analysts at DA Davidson cut their Q4 2024 earnings per share estimates for shares of Civista Bancshares in a report released on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates that the bank will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.54. The consensus estimate for Civista Bancshares’ current full-year earnings is $1.91 per share.

A number of other research analysts have also recently weighed in on the stock. Hovde Group upgraded shares of Civista Bancshares from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on Civista Bancshares from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens upped their price objective on Civista Bancshares from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Civista Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB opened at $20.77 on Friday. The company has a market capitalization of $326.86 million, a P/E ratio of 10.33 and a beta of 0.81. Civista Bancshares has a 1-year low of $13.60 and a 1-year high of $23.69. The firm’s 50 day simple moving average is $21.22 and its two-hundred day simple moving average is $17.97. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.09. The firm had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $37.60 million. Civista Bancshares had a return on equity of 8.33% and a net margin of 13.12%. During the same period in the previous year, the firm earned $0.66 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Civista Bancshares by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,154 shares of the bank’s stock worth $12,316,000 after purchasing an additional 6,234 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Civista Bancshares by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 348,352 shares of the bank’s stock worth $6,208,000 after acquiring an additional 9,501 shares in the last quarter. State Street Corp raised its holdings in shares of Civista Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 298,557 shares of the bank’s stock worth $5,320,000 after acquiring an additional 3,112 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Civista Bancshares by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,232 shares of the bank’s stock worth $1,831,000 after acquiring an additional 4,284 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Civista Bancshares by 4.3% during the 2nd quarter. Ritholtz Wealth Management now owns 91,396 shares of the bank’s stock valued at $1,416,000 after acquiring an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company’s stock.

Civista Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.16 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.64 dividend on an annualized basis and a yield of 3.08%. Civista Bancshares’s dividend payout ratio is currently 31.84%.

About Civista Bancshares

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.